{"id":23675,"date":"2017-10-20T03:29:03","date_gmt":"2017-10-20T03:29:03","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=23675"},"modified":"2017-10-20T06:33:59","modified_gmt":"2017-10-20T06:33:59","slug":"201017-daily-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/201017-daily-analysis\/","title":{"rendered":"201017 Daily Analysis"},"content":{"rendered":"

20 October 2017\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Daily Analysis<\/strong><\/p>\n

Dollar high on tax reform while Catalonia sinks EU. <\/strong><\/p>\n

US dollar received bullish support across the board on Friday after news hit the wires that US Senate has passed the 2018 budget blueprint which will open doors for Republican tax reform effort. The dollar index was quoted up 0.26% to 93.33. The passage which saw a 51-49 vote to pass the budget is one of the first steps taken to inch closer towards legalizing the bill which will allow tax cuts up to $1.5 trillion for the next decade. Overall higher optimism sparked by the news has further supported the US Treasury which was seen with a steeper yield curve of up to 79 basis points. Likewise, overnight duo of upbeat economic data which compromises of jobless claims in Philly Fed Manufacturing Index were also seen to support the further upside of greenback. On the other hand, EUR\/USD extended its losses by 0.35% to $1.1810 amid higher geopolitical risk in the region. The central government of Spain postulate on Thursday that they will suspend Catalonia\u2019s autonomy and impose direct rule after the region\u2019s leader Carles Puigdemont threatens to push for formal independence declaration if official talks were refused.<\/p>\n

In the commodities front, crude oil price was narrowly mixed in Asia after adding up 0.14% to $51.36 as investors look ahead to OPEC\u2019s meeting today for an update on the progress of production cuts and possible hints of extending the agreement. As for gold, price of the yellow metal shed 0.48% to $1,283.52 amid higher demand for the greenback this morning.<\/p>\n

 <\/p>\n

Today\u2019s Holiday Market Close<\/u><\/p>\n

Time\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Market\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event<\/strong><\/p>\n

N\/A<\/p>\n

 <\/p>\n

Today\u2019s Highlight Events<\/u><\/p>\n

Time\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Market\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event<\/strong><\/p>\n

02:00 (Sat)\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0USD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0FOMC Member Mester Speaks<\/p>\n

07:30 (Sat)\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 USD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Fed Chair Yellen Speaks<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economy Data<\/u><\/p>\n\n\n\n\n\n\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Public Sector Net Borrowing (Sep)<\/td>\n5.09B<\/td>\n5.70B<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 Core CPI (MoM) (Sep)<\/td>\n0.0%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD \u2013 Core Retail Sales (MoM) (Aug)<\/td>\n0.2%<\/td>\n0.3%<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD \u2013 Existing Home Sales (Sep)<\/td>\n5.35M<\/td>\n5.30M<\/td>\n–<\/td>\n<\/tr>\n
01:00<\/td>\nCrudeOIL \u2013 US Baker Hughes Oil Rig Count<\/td>\n743<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

GBPUSD<\/u><\/strong><\/p>\n

\"\"<\/p>\n

GBPUSD, H1:\u00a0 <\/strong>GBPUSD was traded lower prior breaking support level at 1.3140. Successful closure below the said support level and downslope of MACD signal line suggest GBPUSD to extend its losses toward the next support level at 1.3065.<\/p>\n

Resistance level: 1.3140, 1.3220<\/p>\n

Support level: 1.3065, 1.3020<\/p>\n

 <\/p>\n

 <\/p>\n

EURUSD<\/u><\/strong><\/p>\n

\"\"<\/p>\n

EURUSD, H1:\u00a0 <\/strong>EURUSD was traded lower after breaking support level at 1.1825. Successful closure of candlestick below the said support level and increasing bearish MACD histogram suggest the pair to extend losses toward support by 200-MA line.<\/p>\n

Resistance level: 1.1870, 1.1905<\/p>\n

Support level: 1.1785, 1.1735<\/p>\n

 <\/p>\n

 <\/p>\n

USDJPY<\/u><\/strong><\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher after breaking resistance level at 113.00. The pair is currently testing the next resistance level at 113.15. Golden-cross as formed by MACD signal line suggest the pair to trade higher if breakout of the said resistance level is successful.<\/p>\n

Resistance level: 113.15, 113.55<\/p>\n

Support level: 112.50, 112.00<\/p>\n

 <\/p>\n

 <\/p>\n

CrudeOIL<\/u><\/strong><\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower after breaking below support level at 51.65. Increasing bearish momentum as shown by MACD histogram suggest crude oil price to extend its losses toward the next support level at 51.25.<\/p>\n

 <\/p>\n

Resistance level: 51.65, 52.50<\/p>\n

Support level: 51.25, 50.80<\/p>\n

 <\/p>\n

 <\/p>\n

GOLD<\/u><\/strong><\/p>\n

\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded lower prior retracement from resistance level at 1291.00 and resistance by 200-MA line. Formation of death-cross by MACD signal line suggests gold price to undergo short-term technical correction to trade lower toward the support level at 1283.45.<\/p>\n

Resistance level: 1291.00, 1297.60<\/p>\n

Support level: 1283.45, 1278.40<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

20 October 2017\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Daily Analysis Dollar high on tax reform while Catalonia sinks EU. US dollar received bullish support across the board on Friday after news hit the wires that US Senate has passed the 2018 budget blueprint which will open doors for Republican tax reform effort. The dollar index was quoted up 0.26% to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[13],"tags":[],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/23675"}],"collection":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=23675"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/23675\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=23675"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=23675"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=23675"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}